Economic Development (Gap) Financing. Additional application requirements:

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Carmella Manning
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1 1 CITY OF KALISPELL Revolving Loan Fund Loan Application Economic Development (Gap) Financing Application fee of $ payable to City of Kalispell must be attached The purpose of the Economic Development (Gap) Financing Program is to support business activities with job creation and/or job retention and to provide gap financing for credit that is not otherwise available. The gap financing would provide terms and conditions which would permit completion and/or the successful operation of the project in the City of Kalispell and surrounding service area. The interest rate and loan term will be determined by the Revolving Loan Fund Committee. Redevelopment Loan Program Application fee of $ payable to City of Kalispell must be attached The purpose of the Redevelopment Loan Program is to provide a financing mechanism for general improvements to a business owner s real property. Such as: façade improvements, weatherization, heating/cooling systems, window/door replacement, electrical improvements, plumbing improvements, roof improvements, floor coverings, interior improvements, foundation improvements, and expansion of commercial building. The length of the loan term will be up to 10 years (120 months), with a fixed interest rate of 3.00%. Loans are to fully amortize over the loan term. The maximum loan amount per borrower is $50,000. Additional application requirements: Completed loan application and $200 application fee. Current personal financial statements for each party having over 20% ownership of the business. Personal tax returns for the last three years for each party having over 20% ownership of the business. Resume of each party having over 20% ownership of the business. Information release form for each party having over 20% ownership of the business. Current year to date financial report for existing businesses. Financial reports for the last three years of operation for existing businesses. Tax returns for the last three years of operation for existing businesses. Completed business plan with forecast for the next three years. (Please ensure all forecast assumptions are adequately disclosed.) 1. Borrower s information: Company Name: Mailing Address: Project Address: Tax ID # DUNS #: Contact Person: Title: Phone: Business Insurance Co: Business Type (Corp, LLC, etc.): Shareholders Name Title Address % Owned Social Security # Date of Birth Description of business (product or service provided etc.): 2. Amount of Loan Request: Collateral:

2 2 3. Value and description of collateral: Is there a current appraisal for the property: Yes No Is there a lienholder on the property: Yes No If yes, include the name of the financial institution and amount owed: 4. Improvements being proposed or reason loan funds are needed: 5. List project costs & other funding sources if being used (include attachment if necessary): 6. Number of full time jobs retained from project: Number of jobs to be created: 7. How will the project impact the economy of the City of Kalispell? (Section 8 to be used for Economic Development (Gap) Financing only) 8. What financial institution are you working with for this project (Include name and phone number of loan officer): City of Kalispell loan terms requested: Term Requested: Total project costs: Anticipated Sources and Uses of Project Funding: Source Amount Use Amount Equity (owner s injection) $ Land $ City of Kalispell Loan $ Building $ Participating Lender $ Capital Improvements $ Other: Working Capital $ $ Equipment $ $ Other: $ $ $ Total: $ Total: $

3 3 9. Give name and address of insurance company and amount of coverage for the following types: Type Company and Address Amount of Coverage Fire: $ Hazard: $ Business interruption: $ Life: $ Flood: $ Liability: $ 10. List below the names of any past or present City of Kalispell employees, City Council members, or Revolving Loan Fund Committee members who are related by blood, marriage, adoption, or who have any present or past financial interest or association with applicant, or any of the applicant s partners, officers, directors, stockholders or businesses: Name Address Details of Relationship or Interest I/we certify that employees and applicants for employment of our company are not discriminated against on the basis of race, color, national origin, religion, age, handicap or sex; and furthermore, I/we realize this document is just an application for a loan. A loan request shall not be considered approved until formal approval is made by the Economic Development Revolving Loan Fund Committee. I/we authorize the City of Kalispell to contact any banks listed on this application or identified in other sources about the project including financial statements and to pull and/or view my credit report. I certify and affirm by my signature that the information contained in and otherwise supplied as part of this application, is complete and current to the best of my knowledge. I further understand that intentional misrepresentation of facts may be basis for a denial of credit. Signature, Title & Date Signature, Title & Date Return completed application and application fee to: City of Kalispell Economic Development Department 201 First Avenue East, Kalispell, MT

4 4 INFORMATION RELEASE FORM I (We) hereby grant the City of Kalispell Revolving Loan Fund Program access to all necessary information concerning my (our) income, employment, bank relationships, payable and trade accounts, credit, business relationships and other sources of financial information. In addition I (we) give my (our) permission to obtain a copy of my (our) individual credit report(s). I (we) give my (our) permission for the above mentioned information to be presented to the loan review committee for review as a part of my (our) project. Company Name Signature and Title of Authorized Company Rep. Company Federal ID Number Address for the last 2 years Signature Individually Social Security Number (Please print full name) Address for the last 2 years Signature Individually Social Security Number (Please print full name) Address for last 2 years

5 5 CITY OF KALISPELL Revolving Loan Fund Loan Application Additional Information Form The following information is requested by the Federal Government in order to monitor compliance with Federal Laws prohibiting discrimination against applicants seeking to participate in this program. You are not required to furnish this information, but are encouraged to do so. This information will not be used in evaluating your application or to discriminate against you in any way. However, if you choose not to furnish it, we are required to note the racial/national origin of the individual applicants on the basis of visual observation or surname. Ethnicity: Hispanic or Latino Not Hispanic or Latino Race (Mark one or more): Gender: White Black or African American American Indian/Alaska Native Asian Native Hawaiian or Other Pacific Islander Male Female This is an Equal Opportunity Program. Discrimination is prohibited by Federal Law. Complaints of discrimination may be filed with the USDA Director, Office of Civil Rights, Room 326-W, Whitten Bldg., 1400 Independence Ave., SW, Washington, DC Company Name Name Date

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Decorah Small Business Revolving Loan Fund Application

Decorah Small Business Revolving Loan Fund Application Name of Applicant: Street Address: State: Legal Entity Zip: Email: Sole Proprietorship Partnership Corporation Federal Employer ID#: Date Business